Published on 11/23/2011 in the Prospect News Structured Products Daily.
New Issue: Bank of America sells $37.13 million Accelerated Return Notes on gold
By Marisa Wong
Madison, Wis., Nov. 23 - Bank of America Corp. priced $37.13 million of 0% Accelerated Return Notes due Feb. 4, 2013 linked to the spot price of gold, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any gain in the price of gold, up to a maximum return of 39.75%.
Investors will lose 1% for every 1% price decline.
Bank of America Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Accelerated Return Notes
|
| Underlying commodity: | Gold
|
| Amount: | $37,132,850
|
| Maturity: | Feb. 4, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus triple any gain in spot price, return capped at 39.75%; full exposure to losses
|
| Initial spot price: | $1,699.00
|
| Pricing date: | Nov 22
|
| Settlement date: | Nov. 30
|
| Agent: | Bank of America Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 06051P174
|
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